Rapid Urbanization and High Demand from Youth Boost Beer Market

Published By : 09 Jun 2016 |Published By : QYRESEARCH

After tea and water, beer is the most popular drink consumed across the globe. The beer market is expanding due to the rise in awareness among consumers about the health benefits of beer. Consumption of beer is proven to be beneficial for the prevention of coronary diseases. Beer is low in both cholesterol and fat content, making it safe for consumption and also preventing high cholesterol. Rising disposable income and rapid urbanization are also responsible for driving the beer market. Changing lifestyle of people, especially the youth is escalating the demand for beer. On the other hand, the beer market is restrained by the bitter taste, which discourages people from consumption.

Brief Snapshot of Scope of Beer Market:

According to a report published by Transparency Market Research (TMR), the Latin America beer market, which was valued at US$57,091.6 mn in 2014 is projected to reach US$77,137.4 mn by 2021, registering a CAGR of 4.4% between 2015 and 2021.

In terms of volume, the Latin America beer market is anticipated to grow from 20,191.6 mn liters in 2014 to 24,847.9 mn liters by 2021, expanding at a 3.1% CAGR from 2014 to 2021.

According to the report, the Middle East beer market is expected to grow from US$3,585.5 mn in 2014 to to US$4,861.6 mn by 2021, expanding at a CAGR of 4.3% between 2014 and 2021.

In terms of volume, the Middle East beer market is projected to expand at a 2.1% CAGR from 2015 to 2021, rising from 1,044.3 million liters in 2015 to 1,209.4 million liters by 2021.

In Latin America, Brazil accounted for a share of 60% and was the largest market for beer in 2014.

The Middle East exhibits a budding market especially for non-alcoholic beers.

The existence of strict government rules and regulations in the region restricts the consumers from drinking alcoholic beer, and thus non-alcoholic beer is more in demand.